The Evolution of Smooth (EOS) brand of lip balms has fast become a Millennial favorite. This brand stands out through its distinctive packaging and fun flavors. The orb shapes close with a decided click that helps to set this balm apart. Not only is it a successful beauty product, it operates with a very successful business model. In fact, the success that EOS lip balm has enjoyed during its brief lifespan is the envy of many firms throughout various industries. By taking on the very staid lip care market segment and filling a gap with their forward-thinking project, EOS has surpassed even Chapstick in sales.
The founders of EOS (evolutionofsmooth.ca) saw that the lip care segment was presented as a utilitarian project rather than part of a beauty routine. By creating a lip care product, not a lipstick or other makeup item, EOS was able to bridge the gap between medicinal lip care and tinted products. EOS lip balm does provide lip care and moisture, helping its users to avoid uncomfortable and unsightly chapped lips, but it also fills a beauty need. Users report that they consider lip care a part of the daily beauty routine and EOS serves that role nicely and effectively.
It was seven years ago that small orbs of lip balm began appearing on shelves of store such as Wal-Mart and Target. Per a recent Fast Company article, it is projected that EOS annual revenue will top $2 billion by the year 2020. It has been recently reported that the company moves over one million units of product per week. The EOS start-up model analyzed the available market data and found a gap in the lip care segment; by filling this void with a fun and natural product that appeals to Millennials they hit a home run. Natural ingredients are the future of beauty and personal products and EOS is leading the way. This company is one to learn from and keep watching!